Under the approval of President Bola Tinubu, the Federal Government is set to initiate direct cash transfers to alleviate the challenges faced by Nigerians. The Minister of Finance, Wale Edun, outlined plans to expand cash disbursements to 15 million Nigerians, a significant increase from the current three million, as part of a comprehensive strategy to address poverty.
Edun emphasized the government’s commitment to simplicity and efficiency, underscoring the use of technology for seamless payments directly to beneficiaries. He highlighted the macroeconomic stability achieved since May 29, emphasizing a shift from wasteful expenditures to prioritize the majority, especially the vulnerable segments of the population.
Acknowledging the impact of elevated food prices, President Tinubu’s interventions include the release of grains to stabilize markets and alleviate costs, showcasing a dedication to supporting those most affected. Close collaboration with the Central Bank is underway to stabilize exchange rates and combat inflation, with a specific focus on revenue initiatives to ease economic burdens.
The Ministerial Retreat, themed ‘Achieving the 8 Presidential Priorities: The Role of the Ministry,’ reflects the government’s dedication to realizing its agenda for national renewal. Governor Umo Eno of Akwa Ibom State urged policymakers to prioritize sectors like agriculture, ICT, and solid minerals for economic diversification, highlighting the collective responsibility of all stakeholders in nation-building.
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